Tcfg Wealth Management LLC Purchases 3,603 Shares of Franco-Nevada Corporation $FNV

Tcfg Wealth Management LLC lifted its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 14.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 28,907 shares of the basic materials company’s stock after purchasing an additional 3,603 shares during the quarter. Franco-Nevada comprises approximately 2.7% of Tcfg Wealth Management LLC’s holdings, making the stock its 4th largest holding. Tcfg Wealth Management LLC’s holdings in Franco-Nevada were worth $7,141,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new position in Franco-Nevada during the fourth quarter valued at approximately $578,577,000. First Eagle Investment Management LLC raised its stake in shares of Franco-Nevada by 26.5% in the 4th quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock valued at $1,062,037,000 after acquiring an additional 1,074,257 shares during the period. Mackenzie Financial Corp raised its stake in shares of Franco-Nevada by 76.0% in the 3rd quarter. Mackenzie Financial Corp now owns 2,363,324 shares of the basic materials company’s stock valued at $525,925,000 after acquiring an additional 1,020,509 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Franco-Nevada by 12.8% during the 4th quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock valued at $1,542,402,000 after acquiring an additional 842,132 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of Franco-Nevada by 100.2% during the 4th quarter. Capital Research Global Investors now owns 1,277,889 shares of the basic materials company’s stock valued at $264,882,000 after acquiring an additional 639,493 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Trading Up 0.6%

FNV opened at $208.46 on Wednesday. Franco-Nevada Corporation has a twelve month low of $152.89 and a twelve month high of $285.67. The firm has a market cap of $40.20 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 1.81 and a beta of 0.34. The company has a fifty day simple moving average of $226.71 and a 200 day simple moving average of $237.17.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.29. The firm had revenue of $650.70 million for the quarter, compared to analyst estimates of $634.43 million. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The firm’s revenue was up 76.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 EPS. On average, analysts forecast that Franco-Nevada Corporation will post 8.85 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were paid a $0.44 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. Franco-Nevada’s payout ratio is 24.79%.

Analysts Set New Price Targets

FNV has been the subject of several recent research reports. Zacks Research downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Wall Street Zen cut Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. HC Wainwright reaffirmed a “buy” rating and issued a $305.00 target price on shares of Franco-Nevada in a research report on Wednesday, May 13th. UBS Group lowered their target price on Franco-Nevada from $310.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, TD upgraded Franco-Nevada from a “hold” rating to a “buy” rating and dropped their target price for the company from $292.00 to $291.00 in a report on Wednesday, May 20th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $268.00.

Franco-Nevada Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.